Civilsdaily
Economics › Economic Growth,LPG,Planning
What does the term “economic liberalization” refer to in the context of Indian economy?
(a)
Expansion of the public sector
(b)
Restriction of foreign investment
(c)
Removal of restrictions on private sector and encouragement of free market policies
(d)
Increase in trade barriers
(C)
The term “Gresham’s Law” is often mentioned in the context of economics. What does it state?
Bad money drives out good money when both are in circulation.
Good money drives out bad money when both are in circulation.
Inflation drives out deflation in the economy.
Market competition drives out inefficient producers.
(A)
In the context of Indian economy, consider the following pairs: Term Most appropriate description 1. Melt down Fall in stock prices 2. Recession Fall in growth rate 3. Slow down Fall in GDP
1 only
2 and 3 only
1 and 3 only
1,2 and 3
In the context of independent India’s economy, which one of the following was the earliest event to take place ?
Nationalisation of Insurance companies
Nationalisation of State Bank of India
Enactment of Banking Regulation Act
Introduction of First Five-year Plan